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Djibouti

METAC’s resources are available to (i) identify and design measures
to strengthen specific aspects of economic and financial management;
(ii) prepare detailed implementation plans based on the diagnostic
work conducted by IMF-Headquarters; (iii) provide policy and technical
advice either by the Center’s resident advisers or by experts from the
IMF roster; (iv) organize hands-on training, seminars, workshops to
allow for peer-to-peer learning and disseminate good practices; (v)
review proposals by governments for consistency with internationally
agreed standards, and (vi) coordinate activities with other technical
assistance providers.

Djibouti has been pursuing a strategy of developing infrastructure
to foster growth and reduce poverty. Nevertheless, poverty and
unemployment remain high, and humanitarian needs have increased with
the influx of refugees, mainly from Yemen. High public investment
spending has been exerting considerable pressure on public finances;
and commercial banks’ loan portfolio deteriorated over the past few
years, driven mainly by the bankruptcy of two private oil companies
and a stricter loan classification required by the Central Bank of
Djibouti (CBD). Against this background, METAC supports (i) the CBD in
enhancing banks supervision and bringing up the supervisory and
regulatory frameworks to best practices; (ii) the Ministry of Finance
in developing a medium-term budgetary framework, improving cash
planning and management, and defining a strategy related to public
enterprises’ dividends; and (iii) the Directorate of Statistics and
Demographic Studies in strengthening the compilation of national
accounts statistics.